2024-03-31-accounts

REGISTERED COMPANY NUMBER: 05093332 (England and Wales} REGISTERED CHARITY NUMBER: 1116774 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR CYMORTH (CYMRU) MHA Statutory Auditor Elfed House Oak Tree Court Cardiff Gale Business Park CARDIFF County of Cardlff CF23 8RS

CYMORTH ICYMRU) CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees 1 to 13 Report of the Indepondent Auditors 14 to 16 Statement of Financial ActKvltles 17 Balance Sheet 18 Notes to tha Flnan¢ial Statements 19 to 27 Detsiled Statement of Financlal Actlvities 28 to 29

CYMORTH (CYMRU) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The Iruslees who are also dlre¢tors of Ihe charity for the puiposes of the Companies Acl 2006, present their report with the financial statements of the charity for Ihe year ended 31 March2024. The trustees have adopted the provisions ol Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Iieland IFRS 1021 leffeclive 1 January 2019). OBJECTIVES AND ACTVrfITIES Objectives and alms Our vision: A Wales where everyone ¢an live safely and independently in their own homes. realise thelr aspiralions and thrive in Iheir ommunities. Our mission: Connect. slrenglhen. influence and inspire servi¢e providers, policy makers and partners to: Prevent homelessness Support people to live safely and independenlty in their own homes Enable people to realise their aspirations and thrive in their communities. Ourvalues: Compassion and respect: We will demonstrate and promtste Compassion and respect in all aspects of our work. Independence." We will be politically independent to ensure that we can act with integrity and ft)r the benefit of our members. Partnership- We will continue to build effective partnerships across different sectors and policy areas lo achieve the greatest impact. Transparency and ac¢ountsbility: We will be open. transparent and honest in all that we do and we will be accountable to our members for our actions. Making a difference: Above all. we will strive to ensure thal the work we do, and that of our members, has a positive impact on people and communities in Wales. Our objectives: Influence." We will provide a strong, nalional voice for our members and the people they support. We will campaign for improvemenis in public perception, policy, legislation and practice to help prevent homelegsness and support people to live independently in their own homes and communities. Strengthen: We will support our members to develop their skills. knowledge and expertise 50 they can deliver high quality, person<entred. psychologically-informed services that have thè greatest possible impact on people's lives. Conned: We will provide opportunities for our membeTS lo connect with each other, people who use seryices, government and other decision makers through our evenls. networks and communications. Sustaln: We will ensure thal Cymorth is financially sustainable and can continue to deliver a high quality service for oui members. We will use our influence to ensure that high quality housing and support continues to be available for as long as people need11. Significant activities Shaping future services Influence: We have been at the heart of the work to develop homelessness and housing support policy and legislation in Wales. while ensuring our members have opportunities to influence it. We have championed the development of policy, service models and commissioning praelices which are high quality. person-cenlred, psychologically and trauma informed. evidence based, innovative, collaborative and based on strong values, compassion and kindness. Strengthen". We have sha￿d evidence and good practice to support improvements lo services. We have delivered training and support lo our members to help them lo embed PIE. We have supported the roll-out of evidence-based interventions su¢h as Housing Firsl to reduce homelessness and rough sleeping. Connect: Our events and briefings have showcased good practice from g¢ross the VK and Europe and provide an environment for provide￿. landlords and local 3Uthorities to connect with experts and each other. Sustaln: We have continued lo campaign and lobby for homelessness and housing-relaled support funding to be increased, ring-fenced and Protected from cuts. Page 1

CYMORTH {CYMRU) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES Worklng with and for our members Influence: We have lislened lo and valued our members, views and expertise. We have represented their views lo decision makers, championed their work. and advocated on behalf of them and the people they support. Strengthen.. We have supported our members 2nd strengthened their Skills and knowledge through our events, reseaich and tralning. We have also been a critical friend and challenged our members to be the best they can. Connect: We have ¢onnecled our members with experts and decision makers through our events and communications. We have run regular networks on key issues SLrch as housing related support, learning disabilities, and Housing First. We have supported our members in north and west Wales. Sustain: We have worked hard lo maintain the confidence and support of our members, by delivering a high-quality seNice that provides value for money. Experts by Experlence Influence: We have supported people to have a voice in our events, policy and campaigns work, so that Iheir experiences help to shape policy. legislation and practice. Strengthen: We have supported people to develop their skills and eonfidence durrng their involvement and ensured that they feel valued and empowered. Connect: We have involved people with lived experience of homelessness and housing related support services in a variety of ways so that they can connect with decision rnake￿, the media and people who deliver services. Sustain: We have encouraged our members and partneis lo involve people who have used services in the design and development of policy and services. locally and nationally, for the long temi. Partnorship and collaboration Influence: We have worf<ed with partnets wilhin and outside of the housing and support sector lo strengthen our calls for changes to policy. legislation or funding. Strengthen: We have strengthened our links with heatth. social services and justice in order to promote collaborations with the housing sector. Conneet: We have worked with our sister organisations across the UK and in Europe and formed strategic partnerships with organisalion5 who can help us to achieve our objectives. Sustain: have continued lo work in partnership with partners to reduce our expenditure and deltver value for our membèrs. Working with the Welsh Government Influence: We have developed a positive and constructive relationship with Ministers and officials - bul we have mainlained our independence and have not been afraid to challenge policy or legislation that will have a negative impact on the people our members support. Strengthen: We have worked with, scnjlinised and lobbied the Welsh Govemment to strengthen policy and legislation so Ft has 8 positive impact on people's lives. Connect: We have connected our members, prtorities to Welsh Govemment priorities, identifying opportunities lo influence the national agenda. We have highlighted the positive impact our members have on Wales. Sustain: We have worked hard to demonstrate our value and Continue lo be viewed as a key and invaluable partner in the developmenl of policy and practice to end homelessness and svpport people to live independently in Wales. A strong and sustalnable future The delivery of this plan Is dependent on Cymorth Cymru being strong and SLfStainable into the future. Financial sustainability.. We have demonstrated value for money for our members and existing funders. We have diveisified and sustained income streams where this will help us lo achieve our stralegic objecllves. We have balan¢ed the need lo diversify income with the need lo maintain our locus and deliver value for our members. A strong, effective Board and staff team: We have recruited high quality people who demonstrate their commitment to our values. We have ensured our 8oard operates in the spirit of openness and transparency, providlng good support and Challenge to the staff team. We have supported people with Iheir mental health and wellbeing and create a positive work environmenl where people can develop and flourish. We have promoted equality and diversity al work and in all we do. Page 2

CYMORTH ICYMRU) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE Public benefit Over the last year we have reviewed our strategic aims. objectives and activities lo ensure that OLtr wotk continues lo remain focused on our charitable purpose of providing advice and support to voluntary and other agencies in promoting the relief of persons who are In povety, sicknes5 and distress. Charitsblg activitie$ Influence: Housing Matters campaign.. During 2023124 we led the campaign for an increase in the Housing Support Grant {HSG) in the Vvelsh Govemment's budget for 2024125. We collected data from our membeFS about the impact of previous cuts on services. as well as the likely impact of cuts in the next budget. We shared this with the Welsh Government and held a roundtable meeting be￿een support providers and senior Welsh Government officials lo illuslrate the impact on se¥vice5. We also worked with the media lo highlight those issues, securing UK news coverage. We submitted evidence to the Senedd Finance Committee and Senedd Local Government and Housing Committee. lo aid their scrutiny of the upcoming budgel. Our evidence featured in comrTFittee reports and Senedd debates. as well as questions to rrtinislers. The HSG was not increased in the Welsh Governmenl's Draft Budget for 2024125, but avoided the cuts that some olher departments did. We continued to campaign and collected d818 on homelessness and housing support worker wages, which showed that the majority of workers were being paid below the Real Living Wage. We met with the Minister for Climate Change and wrote to the First Minister, outlining this data, highlighting the Welsh Government's commitment to fair work and the Real Living Wage, and calling for the HSG to receive additional fLtnding to enable an increase in fronuine staff wages. We also shared this data with Members of the Senedd and the media. This re$￿Iled in UK news coverage and the issue being raised during First Minister's Question. ministetial statements and ministerial questions. At the end of February, the Welsh Governmenl infonned us that the HSG would receive an additional £13m in the final budget for 2024125. a 7.8% increase. This was an extraordinary result. given the pressures on the Welsh Govemment budget. Following our representations on frontline worker wages. the Minister inslrucling local authortlies to utilise this funding to enable support provideFS lo increase pay. We continue lo work with our members. Welsh Government and local authoritÈes lo ensure il reache5 services. Legislative reform: Throughout 2023124 we were an active member of the Welsh Governmer¢l's Expert Review Panel, contributing to a wide range of discussions on legal barriers, temporary accommodation. social housing allocations. and Ihe role of wider PLFblic services. We have engaged with OLtr member organisations throughout this process. using our network meetings to collecl their views on the proposals for legislalive change. We also engaged with fronuine workers through a serres of meetings with the Fronlline Network Wales. This resulted in Iwo papers for the Expert Review Panel. which outlined frontline workers. views on the changes needed lo ensure that the housing sector and wider public servi￿$ do all they can to prevent and respond lo homelessnes5. One of our most significant Contributions to this work was ensuring that people with IDied experience were able to influence the Expert Review Panel. This is outlined in more detail below, bul we are extremely proud of engagement with over 300'experts by experience, and Ihe significant impact il had on the Panel's report and recommendations to the Minister for Climate Change. The Minister adopted the majority of the Panel's recommendations and these were reftecled in the Welsh Govemment's White Paper on Ending Homelessness, which was published in October 2023. As part of the consullatioft on the White Paper. we held fvrther engagement events with frontline workers and our broader membership. We submitted two Tesponses to the White Paper consullalion.- one from Cymorth and a specific response from the Fronlline Ne￿Ork Wales. Following the end of the public consultation we have also attended further Expert Review Panel meetings to consider the feedback from stakeholders. Ending Homelessness Actlon Plan: During 2023124 we continued to play our part in the implementation of the Welsh Government's Ending Homelessness Action Plan. primarily through the following task and finish groups.. Strategic Outcomes Framework= Through this group. we made a significant contribution to (he development of the Strategic Outcomes Framework. which will measure progress towards ending homelessness in Wales. The framework wenl out to consultation in June 2023 and was published in January 2024. Rapid Rehousing.- We conlinug lo conlribule lo this gTOUP and the sub-group on housing supply. Health Inclusion- We are an active member of this group, working with health colleagues lo understand and address the health inequalities facing people experiencing homelessness. Page 4

CYMORTH {CYMRU) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Workfor¢e- We have been a very aclive member of this group. contributlng lo a number of sub4Jroups. As part of the pay svb-group, we encouraged members lo submit information to the pay research and we are helping to analyse the data. We have led the training and qualifications SLtb-groLtp, surveying members about their experiences and views on training and qualifications. This year we also joined the commissioning sub-group, contributing a paper on psychologicalty informed commissioning. Frontline Network Wales: Our Frontline Network Wales, run in partnership with St Martin-in-Ihe-Fields, pfovides a unique space for Ironlline workers to share their views and experiences, engage with nats'onal policy issues. and access peer support. Our meetings this year have included presentations about the proposals for legislative refoim and Ihe mental health strategy, as well as a webinar about trauma infoimed approaches in homelessness practice. We have also supported frondine workers to submit evidence to Ihe Expert Review Panel on legislative reform and respond to Welsh Govemment consultations.. Report to the Expert Review Panel.. Frontline workers. views ol housing legislation in Wales Report to the Expert Review Panel: How public services can prevent and respond to homelessness in Wales While Paper on Ending Homelessness in Wales.. A response from the Frontline Ne￿Ork Wales Draft Mental He81th and Wellbeing Strategy- A response from the Frontline Ne￿Ork Wales Expert$ by Experlenco-. As part of our work with the Expert Review Panel. we engaged with over 300 people who have experienced or been at risk of homelessness. In order to ensure the widest possible engagement, we used a variety of approaches to collect feedback. including online su￿eys, open engagement events in north and south Wales. visits lo a range of temporary accommodation settings. speaking lo people on the streets. visits lo prison and probation services. and one-toknone interviews online. People shared their expeiiences and views about how the law should be changed to improve how we respond to homelessness. TheiT views were communicated in six papets lo the Expert Review Panel, and had a huge impact on the panel's recommendations to the Minister and the subsequent Ending Homelessness Vvhtte Paper. While the Expert Review Panel formed the majority of our work with experts by experience, we also held a communication woikshop and tours of the Senedd to encourage and support people lo make their voices heard. Learning Dlsability- Through our close work with our leaming disability members. we have built on our efforts during the pandemic to ensure that their services are recognised and reflected in key policy decisions. We have represented our members on A number of Welsh Govemmenl groups, including the Learning Disability Ministerial Advisory Group and meetings focused on fair work and the Real Living Wage. In addition, we have been working with Learning Disability Wales and the National Commissioning Board to promote the 'Commissioning for a Better Life. guidance. We have also been working with partner organisalions lo raise concems with the Welsh Government and Members of Ihe Senedd about the shortfall in funding for social care providers lo meét the social care Real Living Wage pledge. Supported Housing Standards.. During 2023124 we worked with the Welsh Government to start the process of developing standards for supported housing in Wales, in response to policy developments in England which could affect Welsh pmviders. We have met wilh officials from the Welsh Government and (he Department for Vvork and Pensions lo ensure that Ihe supported housing system in Wales is understood by the UK Government. as well as facilitating engagement wtlh providers at our Homelessness Symposium and as part ol a task and finish group. Cross4Jovernment influence-. We provided a strong voice for our members on a number of government groups across multiple policy aieas. advocating on behaFf of people using services and enoouraging a cross4epartmentsl approach to ending homelessness and ensuring people have the support they need. This includes regular attendance and conlribulions at the following goveinment meelings: Welsh Govemment Ending Homelessness National Advisory Board Welsh Govemmenl Expert Review Panel on legislative reform Welsh Govemment Mental Health National Partnership Board Welsh Govemment National Implementation Board for Dnjg Poisoning Prevention Welsh Government VAWDASV Strategic Group Welsh Government Leaming Disability Ministerial Advisory Group Welsh Government Fair Work Forum UK Govemmenl Department for Work and Pensions Strategic Partnership Stakgholder Board Welsh Government consultations.- During 2023124 wo responded lo a variety of Welsh Government, Senedd. and UK Govemmenl consultations on behalf of our members and the people they support, including.. Senedd Committee Inquiry.. Private Rented Sector Page 5

CYMORTH (CYMRU) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Welsh Government.. Rebalanung Care and Support Welsh Government.. Adequate Housing including fair rents and affordability Welsh Government.. Renting homes.. B&B accommodation used for homelessness PLtrrposes Welsh Government.. Ending Homelessness Outcomes Framework Senedd Finance Committee.. Welsh Government Draft Budget 2024125 Welsh Government: Ending Homelessness White Paper Representation In the medla: We have continued to appear on radio and television, highlighting the issues affecting our members 2nd people they support, informing public perception and infltsencing polilieal debate. We have also intr(xluced joumalists lo our members and encouraged them to share their views and experiences. During the Housing Matters campaign. we appeared across television news. radio and online news pages in Wales and UK-wide. Strengthen: Conferences and webinars: During 2023124 we ran a seri6s of online events. featuring academics. policy experts and prdctilioners from across Wales, the UK and around the world. These èvents aimed lo strengthen our members. services through the sharing of good praclice and ensuring attendees are kept abieasl of key policy developments, including.. Annual Conference Housing First Wales Conference Homelessness Symposium A Slice of PIE.. Trauma-informed approaches in homelessness practice Psychologically Informed Environments Over the last year we have continued to promote psychologically informed approaches in Welsh policy, legislation and practice. We have developed a Reflective Practice toolkit and training in partnership with Platfform and the ACE Hub Wales. working with our members to shape the content. We will be testing the toolkit and training with groups of frontline workers and managers, with publicalion planned for later in 2024. We have also continued oui PIE Network. holding a meeting which brought together nearly fifty support providers and local authority commissioners to discuss how to make commissioning more psychologically informed. In March we held three sessions of our PIE Foundation COUTse for staff from our member organisations. lo strengthen understanding and delNery of psychologically informed approaches. Youth Justr"ce Simulation Working with End Youth Homelessness Cymru. we have helped to deliver the Youth Justi￿ Simulalion to approximately 50 participants in Cardrff. Using integralive teaching and simulations developed in collaboration with young people wslh lived experience. it explores what it is like lo be a young person moving through various services and systems. including education. foster care. youth justtce, homelessness, and more. The SIM￿latIOn was very successful and we are committed lo delivering more sessions in fvlure. Houslng Flrst prlnciple review= Over the last year, a task and finish group has considered each of the HF principles. made amendments and developed a comprehensive document which explores each principle and how it should be implemented. We also held Iwo successful face-to-face events in North and South Wales with peopl8 who have used Housing First Se￿iCe$. which infom7ed the final draft. The tevised principles were previewed al our Housing First Wales Conference 2024 and will be published during the summer of 2024. We will also hold webinars lo ensure that stakeholders understsnd the new principles. Housing First Accreditation: The Housing First Wales Accreditation has been developed In partnership with the Housing First Wales Nelwork and is supported by the Welsh Government It is a rigorous but supportive process that assesses whether seNices are being deliveied in line with the Housing Fir51 Wales Principles. Over the past year we have embaiked on the accreditation pn)cess with a number of projects, including Swansea Housing First, Carmarthenshire Housing Fifst. and RCT Housing First. We have also started a reflective process with Conwy Denbighshire Housing First, which was the first project to receive the accreditation in 2020. Houslng Flrst Data Collectlon: The latest Wales-wide Housing First slalistics were published on World Homelessness Day. alongside a quote from the Minister for Climate Change. As such. stalislics now reflect the scale and impact of Housing First up lo the end of September 2022. A tenancy sustainment rale of 91Vo highlights how effective and transformalive Housing First continues to be. The publication of the statistics received lols of interest on social media, wilh 3.247 impressions and 94 engagements. Page 6

CYMORTH (CYMRU) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Houslng Flrst for Womèn.. As part of our work with the Housing Firsl for Women sub-groLtp, we wo¥ked with our partners at Welsh Women's Aid and other stakeholders lo publish a report about Housing First for Women. This explored the particular issues facing women experiencing homelessness, and included considerations for generic Housing First projects and specialist Housing Firsl for Women projects. Connect: Communicatlon: We have kept our members infonned of other developments through our regular e-newsleller, largeted communications with our key contacts, our website, network and forum meeting$. and on social media. Networks= During 2023124 we oiganised and ran a number of networks, which have provided invaluable opportunities to inform our members of the latest nation81 policy developments. as well as creating a space for people lo debate and discuss issues, and connect with each other. These included our six Regional Provider Forums. the Frontline Network Wales, the Third Sector Substance Use Netsvork. our Learning Disability Provider Group. our Psychologically Informed Erkvironments Neknrk, and the Housing First Network and its subgroups. Connecting policy areas.. We have continued to work across a number of policy areas to encourage more joined up approaches to ending homelessness and ensuring people have the person-cenlred multi-agency support they need. This includes WOTk with officials and organisations working in housing, VAWDASV. mental health. SLtbslan¢e misuso, social ￿re, welfare and criminal justice, as well as responding to consultations across these policy areas. Houslng Flrst." Our work on Housing FiTSt continues to reach beyond the bordets of Wales, with Cymorth involved in a number of pieces of work in other parts of the UK. Euiope and further afield. This included a contribution lo Parity, Australia's national homelessness publication, about OLFr accreditation process. as well asa presentation delivered as part of their webinar series. In Scotland. we have contributed to a series of Homeless Network Scotland's Housing First sounding board meetings. delivered a presentation at their'¢onnect' events. and written a chapter for the Scottish Housing First Annual Check-up report for 2023. In June 2023, the Housing First Wales Network hosted Juha Kahila, an expert in Housing Fitst from the Y-Fovndalion in Finland, who came and spoke to the group. Cymorth has also attended meetings and conferences held by the Housing First Europe Hub. which is overseen by FEANTSA. conneeling with Housing First experts and practitioners from across Europe and leaining about developments in a range of countries. Connecting with experts across the world.. We have continued to connect with policy makers and practitioners aeross the UK and the wortd, seeking opportunities to leam and share good practice for the benefit of our members and the people they support. Four nations partnership: We have started to have regular meelings with our counterparts across the UK.. Homeless Link in England. Homeless Connect iri Northern Ireland, and Homeless Ne￿Ork Scotland. This has provided invaluable opportunities to discuss developments across the four nations and non-devolved issues such as welfare and immigration. Cymorth conferences: Over Ihe last year our events have enabled our members to conneGt with speakers from Scouand, England and Canada. This has provided opportunities to learn about different policy conlexis and inlerventions, as w611 as good practice from homelessness and housing support ServI￿S around the world. UK-wide campaigning: This year we have worked with partners across the UK lo support the campaign to scrap the Vagrancy Act. supporting a series of letters to Minislels and briefings lo MPS about this issue. External eonferences= Cymorth has spoken at a number of events and confe￿nCeS at the ￿quest of our partners across Ihe UK and worldwide. FEANTSA- We continue to engage wtth FEANTSA, the European Federation of Nalional Organisations Working with the Homeless, working with our European partners to share leaming, research and practice. Sustain: Sector fvndlng: Over the last year we campaigned har¢Jer than ever to protect the Housing Support Grant from cuis lo the budget and lo call for more funding. As described above, this resulted in an additional £13 million being allocated lo the Housing Support Grant for 2024125. Page 7

CYMORTH ICYMRU) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Sustalnable workforce: We have lobbied effectivety lo ensure that the homelessness and housing support workforce is a prrorily area for the Welsh Govemment. As described above. we have been actively involved in a number of sub-groups focused on creating a valued and resilient homelessness and housing support workforce. Our campaigning efforts also led lo the Minister instructing local authorities to ulilise the Housing Support Grant funding increase lo enable exisling services lo increase frontline worker wages. Vve have also been Working with partner organisalions lo raise con¢erns with the Welsh Govemment and Members of the Senedd about the shortfall in funding for soeial care providers to meet the social care Real Living Wage pledge. Financial sustainability: We continue to do everything we can lo deliver value for money to our members and fvnders. We exceeded our financial target for membership incorne and managed to spend less Ihan budgeted over the year. Our relationships with fundeFS continue to be very positive. and we have been awarded another three years of funding from the Frontline Neiwork. Governance and staffing We Continued to deliver the aims and objectNes within our strate9ic plan for 2019-22. which was developed followin9 engagement with our rnembers about their priorities. Due to post-covid pressures and the significant amount of work being undertaken on Welsh Government policy and legislative reform, the Board agreed to extend the Strategic Plan. The Board were confident that the plan remained focused on the most important issues for our members and the people they supporL bul committed lo developing a new strategic plan in the next twelve months. During 2023124 we had one independent Board member with experience in finance and academia, who provides extremely useful scrutiny and challenge. Our Board currently includes six members who deliver services in north Wales and a number who deliver services in mid and west Wales. During 2023124 we recnjited a new Policy and External Affairs Manager. We have continued lo provide training opportunities for our staff, and continued lo invest in a staff wellbeing programme. which provides a range of wellbeing advice and aceess to counselling for our employees. FINANCIAL REVIEW Oveyview of results Net income for the year amounted lo £48,418. This figure is split as £35.205 unrestricted funds and £13,213 on restricted funds. At 31 March 2024 the charity had unrestricted funds of £500.080. This is also the free reserves held as the charity has no funds tied up in fixed assets and no designations in place. Principal funding sources Cymorth has three principle funding sources= govemment fvnding, membership income and events income. Cymorth has traditionally received funding from the Welsh Goveinmenvs Housing Directorate to support its WOTk with the sector and help lo deliver government piiorilies for homelessness and housing related support. Cymorth Cymru continues to work in close partnership with the Welsh Govemment and plays a key role in the homelessness transformation agenda, therefore strengthening its reputation as a key stakeholder in shaping and supporting the delivery of government policy. As a result of the confidence in our WOTk. we received a three-year indtcalive grant allocalton taking us into 2025. However. we are acutely aware of the financial pressures on the Welsh Government and reco9ni5e that this could affect futtsre funding. Cuts to public spending could also affect Oltr members. and therefore their ability to pay membership fees. Feedback from our members suggested our work to repfesent and support our members during Ihe pandemic and in our current policy work has been highly valued - and confidence in our role as the representative body is high. However. our members continue to face significant financial pressures due to increased demand lor services and insufficient funding. We therefore recognise Ihal this Could lead to some members ending their membership, even if they are happy with our wotk. We continued to deliver an events programme during 2023124, including our first in-person conference since the pandeml¢. This was very well received. as We￿ the online conferences and webinars we delivered. While the move to online events since the pandemic has resulted in lower levels of income and expenditure, it is clear that members see value in the events, particularly in relation to the learning. good practice and information on key policy developmenls. We plan lo deliver more In-person cOnfe￿nCeS during 2024125, alongside online events. Page 8

CYMORTH ICYMRU) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Reserves pollcy The trustees are fully aware of the need lo relain a reasonable level of available reserves to ensure the continuance of setvice delivery through challenging economic limes. They oversee an annual review of financial risks and identify a sufficient level of reserves lo ensure any unforeseen or unavoidable costs incurred can be met whilst at the same lime making the most of available reseNes to invesl in developlng the organisation. At the Board meellng on 7 July 2023 the Iruslees discussed the post-pandemic funding environment and the extent to which charilies across the UK were reliant on their reserves during this period. As a fesull. the Board agreed lo change our reserves policy from four months of operating costs to six months of operating costs, which equated to £222.539 based on the budget lor 2023124. At the current time Ihe Board ol Trustees is satisfied with the level of reserves held. However. there are plans to di$cus$ whether we should utilise some our reserves as part of our upcoming strategy review. FUTURE PLANS Our organisalional PTiorily remains ensurtng that our strategy is sound and we are able to maximise our impact on behalf of our members and people who rely on homelessness and housing related support services in Wales. We 5h811 do this by: Reviewing our strategic plan and publishing a new strategic plan by the end of 2024125 Influencing the homelessness legislation. which is due to be tabled in the Senedd in spring 2025. Continuing lo campaign for increased fvnding for the homelessness and housing support sector. Continuing to campaign for increased pay and support for frontline W0￿er$. Continuing to provide a high quality. cost*ffeclive. value for money seyvice to our funders and members. Ensuring we maximise the opportunities for members to share and learn Irom each other and others outside Ihe sector thiough our programme of events, network rneelings and policy briefings. Continuing to acl as a'critical friend, to Welsh Government. as part of the third sector's role in hokling govemment to account. Continuing lo promote and incorporate the views of frontline workers and experts by experience in our work STRUCTURE, GOVERNANCE AND MANAGEMENT Governing documgnt Cymorth Cymru is both a company limited by guarantee (no.. 05093332) and a registered charity {no'. 1116774)- It is governed by its Memorandum and Articles ol Association. Members of the Board are the charity trustees and the directors in eompany law. Recruitment and appointment of new trustee$ The Board of Cymorth is made up of a number of trustees {currently 91, including Member Trustees and Independent Trustees. Member Trustee5 must make up a minimum of 66% of the total Board. There are currently eight Member Trustees and one Independent Trustee. New member trustees are nominated from and by organisations which hold full membership of Cymorth Cymru. Nominations are welcomed from individuals who have the necessary skills. experience and knowledge to maintain a balanced and effective Board. Member trustees are appointed by the members at the Annual General Meeting. The charity appointed its first three independent Injslees in eaily 2016 through an open and transparent recruitment process. They were invited lo join the Board with a view to ensuring that the Board contains an appropriate balance of skills. knowledge and experience relevant to the governance requirements of the org8nisation. The appointment of Independent Members is approved by members at the Annual General Meeting. Organisational structure The Cymorth Board has overall responsibility for the strategic leadership. governance and appropriate management Control of the organisalion. The Board is also responsible for ensuring that Cymorth fulfils its legal duties. It has th￿e primary fun¢lions'. To set and ensure the organisation stays focused on delivering its mission and strategy.. To ensure that the charity complies with ils governing document, charity law and other legal requirements As part of ils scrutiny and stewardship function, lo provide s¢Jpport and constructive challenge lo the management team. in particular the Director. Page 9

CYMORTH ICYMRU) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT Induction and training of new trustegs The Chair and Director are responsible for planning trustee recruitment, induction, training and ￿vIeW. A comprehensive Induction for all new Iruslees provides guidance on their legal responsibilities and obligations. The induclion also provides an ove¥view of the operations and practices of Cymorth Cymru. With the notable exception of trustees, the charity does not rely on the services of unpaid volunteers or donations from the general public. The day lo day running of the charity 1$ delegated by the Board to the Diieclor and staff team. Rlsk management Charities are still recovering and adapting since the pandemic and are now contending with high inflation, the cosl-of-living ¢risis and reslriclions on public spending. All organisations wholly or partly. dIreC￿Y or indireclly dependent on goveinment funding are facing an increasingly uncertain future. Cymorth Cymru is affected by this in ways: by the direct funding received from Welsh Government and the fael that the majority of our members receive public funding lo deliver frontline services. At the same time, the cost of running organisalions and services has increased significantly. This creates challenge5 for Cymorth CYMN and our member organisations. We are more focused that ever on delivering value for money for our members and funders, while being acutely aware of the limited funds that our members have lo spend on membeiship and our events. Within this conlext the Board carefully monitors key risks that need to be miligaled arid consequently the level of reserves required to ensure should public funding. membership fees or other income streams reduce. service delivery to rnembers can be maintained whilst eontingency plans are put in place. This risk and reseNes policy is reviewed on at least an annual basis. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 05093332 (England and Wales) Registered Charity number 1116774 Registered office Temple of Peace King Edward Vll Avenue Cathays Pa Cardiff County of Cardiff CF10 3AP Page 10

CYMORTH ICYMRU) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Trustees Ms S Austin DrMDar Ms S Aldridge Ms C Davies MS C Do¢hety Ms L Evans Mr R Kennedy Ms N Lidubwi MT P Richardson Chair Treasurer Trustees who served durlng the year: Ms J Bibbings Mrs S Morgan Ms C Slaik Resigned 27.10.23 Resigned 27.10.23 Resigned 31.03.24 Direetor Ms K Dallon Company Seeretary Ms K Dalton Auditors MHA Slatutory Auditor Elfed House Oak Tree Court Cardilt Gate Business Park CARDIFF County ofcardiff CF23 8RS Bankers The Co-operative Bank PO Box 250 Skelmersdale WN86 Page 11

CYMORTH ICYMRU) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAILS Bankers Redwood Bank The Nexus Building Broadway Lelchworth Garden City Hertfordshire SG6 3TA Hampshire Trust Bank 55 Bishopsgate London EC2N 3AS Flagstona Investment Management 1 st Floor, Clareville House 26-27 Oxendon Street London SW1Y 4EL Nationwide Building Society Nationwide House Pipers Way Swindon SN38 1NW Advisers Geldards LLP Dumfries House Dumlries Place CARDIFF CF10 3ZF Page 12

CYMORTH ICYMRUI REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STATEMENT OF TRUSTEES. RESPONSIBILITIES The Iruslees (who are also direclots of Cyrnorth ICymnJ} for the purposes of company lawl are responsible lor Preparing the Trustees, Annual Report Ilincluding the Strategic Report)] and the financial statements in accordance with applicable law and United Kingdom Accountin9 Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Iruslees to prepare financial statements for each financial yeai, which give a true and fair viow of the state of attair5 of the charitable company and of the incoming resources and application ol resources. including the income and expenditure. of the charitsble company for that period. In preparing these financial staternenls, the trustees are required lo-. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charilies SORP FRS102 make judgemen15 and estimates that are reasonable and prudent,. stale whether applicable UK Accounting Standards have been followed. subject lo any material departures disclosed and explained in the financial statements., prepare the financial statements on the going ¢on¢ern basis unless it is inappropriate lo presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounts.ng records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial slalements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hen￿ for taking reasonable steps for the prevention and ¢Jeteclion of fraud and other irregularities. In so far as the Iruslees are aware.. there is no relevant audrt information of which the charitable company's auditor is unaware-, and the truslees have taken all steps that they ought lo have taken lo make themselves aware of any relevant audit infomialion and lo e51ablish that the auditor is awafe of that information. Approved by order ofthe Board ofTrustees on ..-- ..-.-. and signed on its behalf by.. slin-c air Page 13

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CYMORTH (CYMRU) Opinion We have audited the financial sialements of Cymorth ICymru} (the 'charitable companv) for the year ended 31 Mar¢h 2024 which comprise the Statement of Financial Adivities, the Balance Sheet and notes lo the financial statements. including a summary of significant ac¢ounling policies. The financial reporting framework that has been applied in their preparation Is applicablo law and United Kir¢gdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Praclice)- In our opinion the financial statements: give a true and fair view of the slate of the charitable Company's affairs as at 31 March 2024 and of ils incoming resources and application of resources. including its income and expenditure, for the year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been PrePa￿d in a¢¢ordan¢e wilh the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemalional Standards on ALsditing (UK) IISAS {UKII and applicable law. Our responsibilities under those standards are further described in the Auditors. responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the elhical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard. and we have fvlfilled our other ethtcal responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to goSng concern In auditing the financial statements. we have concluded that the trustees, use of the going concem basis of accounting in the preparation of the fin8neial slatements is appropriate. 8ased on the work we have performed. we have not identified ar¢y material uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of al least fwelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the tiustees wth respect to going concern 8re described in the relevanl sections of this report. Other infomiatlon The trustee¥ are responsible for the other information. The other infomiation comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial ststemenls does not cover the other information and. except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion Ihereon. In conneclton with our audit of the financial statements. our responsibility is to read the other infomialion and. in doing so, consider whether the other infomiation is materially inconsistenl with Ihe financial slatemenls or our knowledge obtained in the audit or otherwise appears lo be materially misstated. If we identify such malerial inconsistencies or apparent material mlsstalemenls, we are required to delemiine whether this 9ives rise to a material misststement in the financial stslements Ihemselves. If, based on the work we have performed. we conclude that there is a material misstalement of this other infomialion, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion. based on the work undeElaken in the course of the audit= the inft)rmation given in the Report of the Trustees for the financial year for which the financial statements are prepared 1$ consistent wlh the financial statements., and the Report of the Trustees has been prepared in accordance wlth applicable legal requirements. Page 14

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CYMORTH {CYMRUI Matter$ on which we are required to report by exceptlon In the light of Ihe knowledge and understanding of the charitable company and its envSronmenl obtained In the course of the audlL we have not ident¢fied materlal misstatements in the Report of the Trustees. In Ihe light of our knowledge and understanding of the company and ils environment obtained in the course of the audit, we have nol identified material misstatements in the Report of the Trustees. We have nothin9 lo report in respect of the following matters where Ihe Companies Act 2006 requires us to report to you if. in our opinion: adequate accounting records have nol been kept, or relums adequate for our audit have not been receNed from branches not visited by us.. or the financial slatemenls are not in agreemenl with the accounting records and retums: or ¢ertain disclosures of trustees. remuneration specified by law are not made., or we have not received all the inforn7alion and explanations we require for our audit. or the twstees were not entitled to prepare the financial statements in accordance with the small companies regime and lake advantage of the small companles. exemption in preparing Ihe directors. repo Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities. the trustees (who are also the directors of the charitable company for Ihe purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such intemal control as the Injslees determine 15 necessary to enable the preparation of financial statements that are free from rnaterial misstatement, whether due to fraud or error. In preparing the financial staternenls. the trustees are responsible for assessing the charitable company's ability to continue as a going coneem, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations. or have no realistrc allernative but to do so. Our responsibilities for the audit of the financial statements Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misslatemenl. whether due to fraud or error. and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misslateznenl when il exists. Misstatements can arise from fraud or error 8nd are considered material if, individually or in the aggregate, they could reasonably be expected to inffluence the economic decisions of users taken on the basis of these financial statements. Irregularilies, including ￿Ud, are instances of non-compliance with laws and regulations. We design procedures in lirte with our responsibilities. outlined above. lo detect material misstatements in respect of irregularities. including fraud. The specific prO￿dureS for Ihis engagemenl and the extent lo which these are capable of delecling irregulaiities. including fraud is detailed betow.. Enquiry of management and those charged with govemance around actual and potential litigation and claims. Enquiry of erility Staff in tax and compliance functions lo identify any instances of non-compliance with laws and regulations-, Performing audit work over the risk of management overllde of ¢onlrols. in¢luding testing of journal entries and other adjustments for appropriateness. evaluating the business rationale of significant Iransa¢lions outside the normal course of business and reviewing accounting estimates for bias. Reviewing minutes of meetings of those charged with govemance; Reviewing financial slalement disclosures and testing to supporting do¢umentotion to assess Compliance with applicable laws and regulations. Because of the 1fthe￿nt limitations of an avdit, Ihero is a iisk that we wll not detect all irregularities, including those leading to a material misslatemenl in the financial statements or non-compliance with regulation. This iisk increases the more Ihal mpliance with a law or regulation 15 removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due lo fraud rather than error, as fraud involve$ intentional Concealment, forgery, collusion. omission or mi5represenlalion. A further description of our ￿spOnSibl1111es for the audit of the financial statements is located on th8 Financial Reporting Council's website at www.frG.org.uk]audilorsresponsibilities. This description forms part of our Report of the Independent Auditors. Page 15

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CYMORTH (CYMRU) Usè of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapler 3 of Part 16 01 the Companies Act 2006. Our audit work has been undertaken so that we mlght state to the charitable compan￿5 members those mallers we are required lo stale lo them in an auditors, report and for no other purpose. To Ihe fullest extent permilted by law, we do not accept or assume responsibility to anyone other than the charitable company at￿ the charitable company's members as a body, for our audit work, for this report. or for the opinions we have formed. Julia Mortimer {Senior Statutory Audttorl for and on behalf ol MHA Slalutory Audilor Elfed House CARDIFF CF23 8RS Date: MHA is the trading name of Maclntyre Hudson LLP, a limited liability partnership in England and Wales (registered number OC312313) Page 16

CYMORTH ICYMRU) STATEMENT OF FINANCIAL ACTivrriES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 Total fijnds Unreslricled fvnds Reslricled funds Notes INCOME AND ENDOWMENTS FROM Charitable actlvltles Membership ReseaTch. policy and practice Training and events 106.375 229,539 15,159 106.375 301.454 15,159 105,400 287,617 21,899 71,915 Inveslment income 5,189 5,189 1.746 Total 356 262 71,915 428 177 416.662 EXPENDITURE ON Charitable activitles Membership Research, policy and practice Training and events 89,836 217.064 14.157 89,836 275.766 14.157 95.767 268,775 21,059 58.702 Total 321.057 58.702 379,759 385.601 NET INCOME 35,205 13,213 48,418 31.061 RECONCILIATION OF FUNDS Total funds brought forward 464,875 19,035 483,910 452.849 TOTAL FUNDS CARRIED FORWARD 500.080 32.248 532.328 483.910 The notes foTm part of these financial statements Page 17

CYMORTH ICYMRUI IREGISTERED NUMBER: 05093332) BALANCE SHEET 31 MARCH 2024 2024 Total funds 2023 Total funds un￿striCted lunds Restricted funds Notes FIXED ASSETS Tangible assets 12 506 CURRENT ASSETS Debtors Cash at bank and in hand 13 85.579 437.750 22,317 22.955 107,896 460.705 90.830 424.111 523.329 45.272 568,601 514.941 CREDITORS Amounts falling due within one yeaf 14 {23,249) 113,0241 136.2731 131.537) NET CURRENT ASSETS 500 080 32,248 532.328 483,404 TOTAL ASSETS LESS CURRENT LIABILITIES 500.080 32,248 532,328 483,910 NET ASSETS 500,080 32,248 532,328 483,910 FUNDS Unrestricted funds Reslricled funds 16 500.080 32.248 464,875 19,035 TOTAL FUNDS 532,328 483.910 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject lo the small companies regime. The financial stslements were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by.. JAU in - Chair The notes forn part of these financial statements Page 18

CYMORTH {CYMRU) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 STATUTORY INFORMATION Cymorth Icymrul is a registered charity and private company limited by guarantee and has no share ¢apilal. Members have agreed lo Contribute £1 in the event of a winding up. The company is incorporated in Wale$ in the United Kingdom. The registered office is Temple of Peace. King Edward Vll Avenue. Calhays Park, Cardiff, CF10 3AP. Th6 nature of the CoMpan￿S operations and princtpal activities Is dlsclosed within the Report of the Trustees. The financial statements are presented in Sterling 1£), the company's functional cUr￿ncY, and rounded to the nearest pound. The significant a¢¢ounting policies applied in the preparation ol these financial statements are set out below. These policies have been consistently applied lo all yeaTS presented unless otherwise staled. ACCOUNTING POLICIES Basls of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charilies preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) leffeclive 1 January 20191,, Financial Roporting standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financi81 statements have been prepared under the historical cosl convention. Cymorth (Cymtu) meets the definition of a public benefit entity as demonstrated within the Report of the TTilStees. There have been no material departures from the reporting standard. Going con¢ern No material uncertainties which may cast significant doubt upon the entity's ability lo continue as a going concem exist. Income All income is recognised in the Statement of Financial Activities once the charity has enlitlemenl *0 the funds. it is probable that the income will be received and the amount can be measured reliably. This includes capital grants. Income from charitable activities iflcludes income received under contract or where entitlement lo grant funding is subject to specific performance conditions. This income is reeognised where there is entitlement, when the receipt is probable and the amount can be measured reliably. Income 15 deferred when the amounts received are in advance ol the perfomiance of the Service or event lo which they relate. Membership fees are accounted for in the period lo which they relate. Other trading activities are recognised as Ihe related services are provided and there is entitlement, probability of receipt and the amount can be measured wÈth sufficient reliability. Income is deferred when the amounts received are In advance of the delivery of the servi¢e or event to which it relates. Investment income is recognised on a receivable basis. It is not the policy of the ¢hadty to show income net of expenditure. Expendlture Liabilities are recognised as expendilure as soon as there is a legal or construcllve obllgation committing the charity lo that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expendittjre is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to Ihe category. Where costs cannot be directly attributed lo partlcular headings they have been allocated to activities on a basis consislenl with the Ltse of resources. Page 19 continued...

CYMORTH {CYMRUI NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES . contlnued Expendlture Expenditure on charitable activities compr¢ses those costs incurred by the charity in the delivery of ils activities and services foT its beneficiaries. It includes both Costs that can be allocated directly to such activities and those costs of an indirect nature to support them. Support costs are those costs that, whilst necessary to delÉver an activity, do not themselves produce or conslitul8 the output of the charitable activity. This includes governance costs which are those costs associaled with meeting the constitutional and stalulory requirements of the charity and include the accountancy fees and costs linked lo the strategic management of the charity as well as a proportion of salaries based on an approximation of time spent In this area. Expenditure includes any VAT which cannot be fvlly recovered and is reported as part of the expenditure to which it relates. Allocation and apportionment of costs All costs are allocated between the expenditure eategories on 8 basis designed lo reflect the use of the resource. Costs relating lo a partFcular adivity are allocated directly,. others are apportioned on an appropriate basis. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset (less expected residual value) over its estimated useful rile. Plant and machinery Fixtures and fittings 33.33Yo on cost - 25Yo on Cost Fixed assets are initially recorded at cost. Only assets which cost £500 or more are capitalised. Taxation The charity is exempt from corporation lax on its chartlable aclivities. Fund accountln9 Unrestricted funds ara available for use at the trustees. discrelion for any ptsrpose within the objects of Ihe charity- Restricted fund5 have been received with stipulation from the donor as to the purpose for which they may be used. Designated funds are unrestricted funds eamarked by the trustee board for particular purposes. Pension costs and other post-retirement benefits The charity operates a defined contribution pension scheme for employees. The assets of the scheme are held sep8rately from those of the charity- The annu81 Contributions payable are charged to the statement of financial activities incorporating the income and expenditure account. Operating leases Renlals applicable to operaling leases where substantially all of the benefits and risks of the ownership remain with the les50r a￿ charged againsl profits on o straFght line basis over the period of the lease. The benefi15 of lease incentives are recognised in the profit and Ioss account over the lease period. Basls of recognltlon of Ilabllltles Llabilities are recognised as soon as there is a legal or constructlve obligation which commits the charity to the expenditure. Flnancial Instruments The charity only has financial assets and financial liabilities of a kind that qualify as basi¢ financial instiuments. Basic nancial instruments are initially recognised at transaction value and subsequently measured al their se￿ement value. Page 20 conlinlted...

CYMORTH {CYMRU) NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - contlnued Operatlng leases Trade and olhei debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount piepaid net of any trade discounts due. Creditors and provisions are recognised where the charity has a present obligation fesulling from 8 Past event that will probably resull in the transfer of funds to a third party and the amount due lo settle the obligation can be measured or eslimaled reliably. Creditols and provisions are nomi8lly recognised at their settlement amount after allowing for any trade discounts due. Slgniflcant accountlng Judgements and estlmates Estimates and judgements are Continually evaluated and are based on historical experience and other relevant factors, including expectations of future events that are believed to be reasonable under the circumstances. The preparation of the financial statements requires management to make estimates and assumptions con¢eming the future. The resulting accounting estimates will. by definition, be likely to differ trom Ihe related actual results. No estimates or assumptions have been identified that have significant risk of causing malerial adjuslmenl to the carrying amounts of assets and liabilities within the next financial year. INVESTMENT INCOME 2024 2023 Bank interest 5.189 1,746 INCOME FROM CHARITABLE ACTNITIES 2024 2023 Activity Membership Research. policy and practice Training and events Training and events Membership income Grants Grants Evenls income 106.375 301,454 2,270 12,889 105,400 287,617 2.131 19.768 422.988 414,916 Grants received. Included in the above. are as follows.. 2024 2023 Welsh Goveinment Homelessness Prevention Grant.. Corg fiJndin9 Other Welsh Government Grants St Martin in the Field Frontline Network Oak Foundation Experts by Experience 227,017 4.792 33.657 38.258 213,135 4.898 37,316 34,399 303.724 289,748 Page 21 continued...

CYMORTH (CYMRU) NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 CHARITABLE ACTIVITIES COSTS Direct Costs {see note 61 Support costs (see note 7) Totals Membership Research, policy and practice Training and events 74.296 231,632 11.670 15.540 44,134 2.487 89.836 275,766 14.157 317.598 62,161 379.759 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Staff costs Events and training programme Research. policy and practice Other staff related costs Rent Computer expenses Telephone costs Printing. postage and stationery Insurance Staff recruitment costs Bad debts Oak Foundation Project Costs Frontline Nelwofk Subscriptions and memberships ￿￿e¢Over2b1e VAT Depreciation 257.236 13,110 1,276 3,050 10.395 6,240 1.380 61 1.712 399 2.400 2.331 499 7.104 10.000 405 286.041 3.524 65 3,122 10.396 6.618 1.208 490 1,814 1.674 4,260 747 4,693 522 317.598 325,174 SUPPORT COSTS staff costs other costs Govemance costs Depreciation Totals Membership Research, policy and practice Training and events 10.229 25 1.057 4.229 15.540 29.051 1,637 72 3.001 169 12.010 677 44.134 2,487 40,917 101 4,227 16.916 62,161 Page 22 ¢ontinued...

CYMORTH {CYMRU) NOTES TO THE FINANCIAL STATEMENTS . eontlnued FOR THE YEAR ENDED 31 MARCH 2024 NEf INCOMEI(EXPENDITURE) Net incomel{expendilure) is ststed after chargingl{cr6dilingl'. 2024 2023 Audltors, remunerallon Depre¢iation - owned assets Operaling leases- lease payments recognised as an expense Audito￿. remuneration - other financial Services 5.000 506 11,550 640 4.400 652 11,550 640 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 or for the year ended 31 March 2023. Trustees. expenses During the year trustee5' expenses of £120 were reimbursed to Iwo Iruslees in respect of accommodation and travel expenses {2023.' NIL). 10. STAFF COSTS 2024 2023 Wages ond salaries Social security costs Other pension costs 271,075 21,739 17.135 294.071 25.086 17.268 309.949 336.425 The average monthly number of employees during the year was as lollows- 2024 2023 Staff The number of employees whose employee benefits {excluding employer pension costs) exceeded £60,000 was.. 2024 2023 £60.001- £70,000 The lotal key management personnel remuneralion benefits during the year was £73.429 (2023.. £71.6491- Page 23 continued...

CYMORTH {CYMRUI NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Charitsble activitie$ Membership Research, policy and practice Training and events 105,400 215,902 21,899 105,400 287,617 21,899 71,715 Investment income 1.746 1.746 Total 344,947 71.715 416.662 EXPENDITURE ON Charltable actlvities Membership Research. policy and practice Training and events 95.767 204,813 95.767 268,775 21.059 63.962 Total 321.639 63.962 385.601 NET INCOME 23.308 7.753 31,061 RECONCILIATION OF FUNDS Total funds brought forward 441,567 11,282 452.849 TOTAL FUNDS CARRIED FORWARD 464.875 19.035 483.910 12. TANGIBLE FIXED ASSETS Fixtures and fittings Plant and machinery Totals COST At l April 2023 and 31 March 2024 2.112 766 2.878 DEPRECIATION At 1 April 2023 Charge for year 1.606 506 766 2,372 506 At 31 March 2024 2.112 766 2,878 NET BOOK VALUE Al 31 March 2024 At 31 March 2023 506 506 Page 24 continued...

CYMORTH ICYMRU) NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Prepayments and accrued Income 11,098 96.798 1,392 89.438 107,896 90,830 14. CREDITORS." AMOUNTS FALLING DUE ￿THIN ONE YEAR 2024 2023 Trade credttors VAT Other credFtOTS Accruals and deferred income 2,472 10,069 1.291 6.072 500 540 24,425 36.273 31.537 Included withiri accruals and deferred income above is the following deferied income.. 2024 2023 Deferred income brought forward Released to SOFA Additional income defeffed in the year 15.424 {15.424) 13.024 27,803 127,803) 15,424 13.024 15,424 The deferred income relates lo income received in advance of project delivery. 15. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows.. 2024 2023 Within one year 12,128 11.550 Operating lease payments recognised as an expense during the year amount lo £11,550 {2023'. £11,550}. 16. MOVEMENT IN FUNDS Net movement in fund$ At 3113124 Al 114123 Unrestricted funds General fund 464.875 35.205 500,080 Restrlcted funds st Martin in the Field Frontline Network Oak Foundation Experts by Experience 16,933 2,102 7,714 24.647 7,601 19.035 32.248 TOTAL FUNDS 483 910 48.418 532,328 Page 25 Continued...

CYMORTH ICYMRU) NOTES TO THE FINANCIAL STATEMENTS . contlnued FOR THE YEAR ENDED 31 MARCH 2024 16. MOVEMENT IN FUNDS - ¢ontinu¢d Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in fund$ UnrestTiCted funds General fund 356,262 (321,057) 35,205 Restricted funds St Martrn in the Field Frontline Network Oak Foundation Experts by Experience 33,657 38.258 125.943) 32.7591 7.714 5.499 71,915 58.7021 13,213 TOTAL FUNDS 428,177 379,7591 48.418 Cornparatives ft)r rnovement in funds Nel movement in funds At 3113123 At 114122 Unrestrlcted funds General fund 441.567 23.308 464,875 Restricted funds St Martin in the Field Frontline Network Oak Foundation Experts by Experience 7.728 3.554 9.205 1,452) 16.933 2.102 19.035 TOTAL FUNDS 452.849 31.061 483.910 Comparalivg net movement in funds, included in the above are as lollows.. Ineoming resources Resources expended Movement in funds Unrestricted funds General fund 344.947 {321.6391 23,308 Rèstricted funds St Martin in the Field Frontline Network Oak Foundation Experts by Experience 37,316 34,399 {28,111) 35,851) 9,205 71.715 63.9621 7,753 TOTAL FUNDS 416 662 385,601) 31,061 Restri¢ted funds Grant funding was received from the Oak Foundation to amplify the voice of people with lived experience of homelessness in Wales. Page 26 continued.

CYMORTH {CYMRU) NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 16. MOVEMENT IN FUNDS- ¢ontlnued Grant funding was received from Sl Martin in the Fields Frontline Neiwork to provide- Opportunities for frontline workers lo regularly come together in their areas- to netsvork, share experiences and expertise The potential lo explore solutions lo key issues affecting staff and people they are supporting Links between the fronttine voice and decision-makeTS 17. EMPLOYEE BENEFIT OBLIGATIONS The charity operates a defined contribution scheme. The pension Costs charge for the year represents contributions payable by the charity to the scheme and amounted lo £17,135 {2023- £17,268). At the year end there were oulslanding contributions of £Nil (2023.. £Nill. 18. RELATED PARTY DISCLOSURES During the year and the comparative year. the charity ieceived membership, training and event income from number of member oiganisalions conneeled to the Board of Trustees. Charges were made in line with slandard rates charged to all other member bodies associated with Cymorth (Cymru). Page 27

CYMORTH ICYMRU) DETAILED STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 INCOME AND ENDOWMENTS Investment income Bank interest 5,189 1,746 Charitablg activities Grants Membership income Events income 303.724 106.375 12.889 289,748 105,400 19,768 422,988 414 916 Total incoming resources 428,177 416.662 EXPENDITURE Charitable activities Wages Social security Pensions Events and training programme Resea￿h. policy and practice Other staff related costs Rent Computer expenses Telephone costs Printing. postage and stationery Insurance staff recruitment costs Bad debts Oak Foundation Project Costs Frondine Network Subscriptions and memberships Irrecoverable VAT Fixed asset depreciation 218,362 21,739 17,135 13.110 1.276 3.050 10.395 6.240 1.380 61 1.712 399 2.400 2.331 499 7.104 10.000 405 243.687 25.086 17,268 3.524 65 3,122 10,396 6,618 1,208 490 1.814 1,674 4,260 747 4,693 522 317,598 325,174 Support costs Staff costs Wages 40,917 38.924 Depreclatlon Depreciation of tangible fixed assets 101 132 other costs Rent Computer expenses Telephone ¢osts Printing, postage and stationery Cariied forward 1.155 693 153 1,155 735 134 55 2,079 2,001 This page does not form part of the statutory flnan¢ial slalements Page 28

CYMORTH {CYMRU DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Other costs Brought forward Other office costs including cleaning Accountancy services 2,001 786 2.079 1.767 1,665 4,227 5,511 Governance costs Trustees, expenses Wages Auditors, remuneratlon 120 11,796 5.000 11.460 4.400 16,916 15.860 Total resources expended 379.759 385.601 Net incom8 48.418 31,061 This page does not form part of the statutory financial statements Pa9e 29